Carbon Dioxide Sequestration at Sea: A Solution for Pollution Reduction and Economic Growth
Carbon capture and storage (CCS) is the focus in industrial cities worldwide to reduce pollution. Carbon constitutes a significant portion of pollution globally. Various countries are working towards the ambitious goal of reducing carbon emissions by 2050. Many companies worldwide are experimenting with methods to reduce carbon emissions. One of the most effective strategies to mitigate carbon pollution is carbon capture and storage (CCS). CCS involves capturing CO2 emissions from the environment and storing them, primarily by capturing and storing them underground.
An energy company in Italy is working on a plan to create a network of pipelines to capture carbon dioxide from polluting industries and store it in old natural gas reservoirs. They claim that this carbon capture and storage process can significantly reduce pollution, save costs, and create new jobs. The company has been working in the field of crude and gas sales but is uncertain about its future due to concerns about climate change. According to officials, the company’s infrastructure, such as crude oil wells and pipelines, can be utilized for carbon capture and storage.
The company is spending approximately 100 million euros (approximately 903 crore rupees) to capture approximately half of the carbon dioxide emitted from its gas processing plant in Casalborsetti. The work has been completed to a considerable extent, and shortly, carbon dioxide will be released into a new well, approximately 12 miles away and 10,000 feet below the sea surface, in a gas segment. If the initial phase is successful, a major project will be initiated, with an initial cost of 1.5 billion euros (approximately 13,500 crore rupees). This will involve connecting factories in Italy and France and burying up to 16 million tons of carbon dioxide under the sea. Customer pressure and the cost of carbon are encouraging businesses to seriously consider carbon capture projects.
Researchers at Columbia University are working on carbon capturing and storage. According to Gaurav Sant, the director of the C-change project, the ocean is the most significant tool for absorbing the most carbon emissions from the Earth. They capture up to 30% of CO2 released into the environment. Gaurav Sant and his team are actively engaged in removing one ton of carbon dioxide at a cost reduced to $100 (approximately 8223 rupees) per ton. Researchers aim to commercialize this technology by selling carbon credits and hydrogen. For this purpose, they have also started a startup called Equetiq Inc. This startup is also experiencing good investment opportunities.
